Can someone help me figure out what I am doing wrong?

Your answer is partially correct. Concord Company had sales in 2019 of $1,684,800 on 62,400 units. Variable costs totaled $1,123,200, and fixed costs totaled $513,000. A new raw material is available that will decrease the variable costs per unit by 20% (or $3.60). However, to process the new raw material, fixed operating costs will increase by $92,000. Management feels that one-half of the decline in the variable costs per unit should be passed on to customers in the form of a sales price reduction. The marketing department expects that this sales price reduction will result in a 5% increase in the number of units sold. (a) Prepare a projected CVP income statement for 2020, assuming the changes have not been made. CONCORD COMPANY CVP Income Statement For the Year Ended December 31, 2020 Total Per Unit $ Sales $ 1,684,800 27 Variable Costs (943,488) 14.40 Contribution Margin 707,616 $ UA 10.80 Fixed Costs (605,000) Net Income/(Loss) $ $ 102,616 (b) Prepare a projected CVP income statement for 2020, assuming that changes are made as described. (Round per unit cost to 2 decimal places, e.g. 5.25 and all other answers to decimal places, e.g. 1,225.) CONCORD COMPAN Total Per Unit Sales $ $ 1,606,878 $ 23.40 Variable Costs (707,616) 10.80 Contribution Margin 899,262 $ 12.6 Fixed Costs (697,000) Net Income/(Loss) $ 202,262 e Textbook and Media